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Joint Development Authority <br /> TCAAP Redevelopment Project <br /> <br /> <br /> <br /> <br />DATE: May 6, 2013 <br /> <br />TO: Joint Development Authority Board of Commissioners <br /> <br />FROM: Pat Klaers, City Administrator <br />City of Arden Hills <br /> <br />SUBJECT: Insurance for the JDA <br /> <br />Budgeted Amount: Actual Amount: Funding Source: <br />n/a $1,875 plus $900 <br />for excess liability <br />n/a <br /> <br />Requested Action <br /> <br />Approve the insurance package for the JDA as proposed by the League of Minnesota Cities Insurance <br />Trust (LMCIT). <br /> <br />Discussion <br /> <br />Mark Lenz, the City’s Insurance Agent from Bearence Management Group, has been working with the <br />LMCIT to obtain a quote for insurance coverage for the JDA. Additionally, Mark has been in contact with <br />Georgie Schilte, Risk Management Consultant for Ramsey County, regarding insurance for the JDA. <br /> <br />Mark will be at the JDA meeting on May 6, 2013 to review the LMCIT insurance proposal. A summary of <br />this insurance coverage proposal is attached. The insurance quote is for a one year period. The <br />insurance proposal is a package plan and includes coverage for: municipal liability, crime, automobile, <br />employee dishonesty, and defense cost. Additionally, the JDA can purchase excess liability coverage. <br />This excess liability insurance option will need some discussion and a decision by the JDA. <br /> <br /> <br /> <br /> <br /> <br />AGENDA ITEM 6b <br /> <br /> <br />MEMORANDUM <br />